ANTHROP 1AA3 Study Guide - Profit Margin, Sales Promotion, Marketing Mix
13 Apr 2014
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Document Summary
Consists of everything that customers evaluate when buying something: value enhancers along with the product, ex. Restaurant food (core product) plus the excellent service=augmented product: some are tangible (ex. packaging) and others intangible (ex. Product line: group of products that are physically similar or are intended for a similar market: ex. Household cleaners, shampoos (each one may have several brands) Product mix: combination of product lines offered by manufacturer: ex. Companies must decide what mix is best, diversifying lessens the risk of focusing on only one target market. The creation of real or perceived product differences: actual differences are quite small, it is how the marketer plays with price, advertising, and packaging (value enhancers) to create a unique, attractive image. Companies have used packaging to change and improve their basic product. Can also make it attractive for retailers: rfid and upc"s (barcodes) help in organizing and finding products within stores.
